Gold is cruel
Diupdate
Hi Guys,
It's Dec.24th, Christmas Eve, and Gold has just crossed the descending trendline of the following chart (Click & Play it to watch it unfold)
The breakout have written "buy me" all over it. It could easly climb back above 1500 considering the current bullish outlook. There is no doubt that such a move will attract lots of buyers aiming for highs above 1560.
I was expecting a drop in Gold when US and China announced Phase One of the Trade Deal on Dec.13. I was bearish on Gold when UK elections delivered a conservative majority. I thought these factors would have removed uncertainties and favoured risk appetite therefore away from safehaven. But they did not. Gold resisted well at all these bearish forces including NFP above expectations and it has breached the descending trendline right on Christmas Eve.
Could Gold have done it last week instead of moving in a 6$ range? (Click & Play it to watch it unfold)
No. The yellow metal had to wait Dec.24 before making a move. Is it a Christmas present for those who take profit or an opportunity to position long for a prosperous 2020?
2019 has been a great year for Gold already. Since year started Gold made two bull runs without consiering the run made in the last three month of 2018.
IMHO it may be a good time to retrace such rush as it did when Gold corrected the run made in the first half 2016. Current outlook may turn around in 2/3 weeks, converting itself in a bulls trap like it happened following Trump's election.
The move IMHO may be triggered if and when Phase One of US China Trade Deal is signed mid Jan 2020.
In the meantime expect a lot of Tweets from Trump. LOL
For additional infos about Gold please refer to the related ideas linked at the end of this post.
If you have any questions or comment to add please do not hesitate to post it.
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
It's Dec.24th, Christmas Eve, and Gold has just crossed the descending trendline of the following chart (Click & Play it to watch it unfold)
The breakout have written "buy me" all over it. It could easly climb back above 1500 considering the current bullish outlook. There is no doubt that such a move will attract lots of buyers aiming for highs above 1560.
I was expecting a drop in Gold when US and China announced Phase One of the Trade Deal on Dec.13. I was bearish on Gold when UK elections delivered a conservative majority. I thought these factors would have removed uncertainties and favoured risk appetite therefore away from safehaven. But they did not. Gold resisted well at all these bearish forces including NFP above expectations and it has breached the descending trendline right on Christmas Eve.
Could Gold have done it last week instead of moving in a 6$ range? (Click & Play it to watch it unfold)
No. The yellow metal had to wait Dec.24 before making a move. Is it a Christmas present for those who take profit or an opportunity to position long for a prosperous 2020?
2019 has been a great year for Gold already. Since year started Gold made two bull runs without consiering the run made in the last three month of 2018.
IMHO it may be a good time to retrace such rush as it did when Gold corrected the run made in the first half 2016. Current outlook may turn around in 2/3 weeks, converting itself in a bulls trap like it happened following Trump's election.
The move IMHO may be triggered if and when Phase One of US China Trade Deal is signed mid Jan 2020.
In the meantime expect a lot of Tweets from Trump. LOL
For additional infos about Gold please refer to the related ideas linked at the end of this post.
If you have any questions or comment to add please do not hesitate to post it.
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
Catatan
Catatan
Catatan
Hi Guys,the narrative of this post is the same applied to my post dated April 13, 2019 (below): Financial Crisis have driven Gold price up and the System have responded by implementing policies aimed to stabilize.
The run started after the collapse of investment bank Lehman Brother when Gold retraced from 1032 to 730 in 2008. It took three years to get to 1920, then...profit taking in Sept.2011!
In 2012 skepticism was surrounding the policies implemented by CBs worldwide in order to stabilize the financial System. But finally at the beginning of 2013 demand for safe haven dropped to reach 1046 in 2016.
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